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FTX SOL staking intensified this week as the bankrupt exchange’s estate redeemed roughly $45 million in Solana from staking pools, signaling an aggressive push to repay creditors and sparking fresh debate over Solana’s ability to absorb continued sell pressure.
The redemption, which involved roughly 192,000 SOL tokens, underscores the ongoing strategy of liquidating assets to meet creditor repayment obligations.
FTX sol staking activity has been closely monitored since the exchange’s collapse in 2022, and this latest move highlights the scale of assets still under management.
The tokens, once staked, are now expected to be distributed across several wallets before eventually making their way to exchanges such as Coinbase and Binance.
Blockchain analytics platform EmberCN reported:
“They redeemed 192,000 $SOL from staking, which will likely be distributed and transferred to multiple addresses later today, as usual.
Most of these addresses receiving SOL will subsequently transfer the SOL to Coinbase or Binance.”
This redemption follows a much smaller withdrawal just weeks earlier, when FTX sol staking saw 191 SOL tokensredeemed.
Despite the large-scale liquidations, records on Solscan show the estate still controls 4.18 million SOL staked—valued at nearly $977 million.
Since November 2023, the FTX and Alameda estate has redeemed and liquidated an eye-watering 8.98 million SOL, generating around $1.2 billion at an average sale price of $134.
These redemptions form part of the estate’s long-term creditor repayment plan approved by the U.S. bankruptcy court.
Industry experts stress that while the amounts involved are substantial, the FTX sol staking strategy has not negatively impacted Solana’s market price.
Instead, Solana has shown resilience, climbing 6.2% in the past 24 hours to hit $237.71, according to CoinGecko.
“Solana’s strength in the face of FTX sell pressure demonstrates the network’s growing adoption and investor confidence,” said Michael van de Poppe, CEO of trading firm MN Trading.
FTX sol staking redemptions feed directly into the estate’s creditor repayment plan. The next payout round is scheduled for September 30, though the size of the distribution remains undisclosed. BitGo, Kraken, and Payoneer will once again handle processing.
To date, FTX has already returned more than $6.2 billion to creditors. Earlier this year, repayments of $1.2 billion in February and $5 billion in May were successfully executed.
“Our focus is on maximizing returns to creditors in an orderly manner,” the FTX restructuring team confirmed in a statement earlier this year.
One of the reasons FTX sol staking has captured such close attention is the scale of its remaining assets.
With over 4 million SOL tokens still staked under a four-year vesting schedule, liquidations will continue gradually.
The estate has favored private auctions, often selling at discounts to major buyers like Galaxy Digital and Pantera Capital.
For Solana investors, the question remains whether the steady flow of redemptions could pressure prices. So far, however, the market has absorbed these movements without disruption.
FTX was once the world’s third-largest crypto exchange, handling billions in daily trading volume.
Its spectacular downfall in November 2022—sparked by mass withdrawals and a liquidity crunch—sent shockwaves through global crypto markets.
Now, the FTX sol staking redemptions have become a focal point in the ongoing bankruptcy proceedings, representing both repayment progress and market resilience.
As the next distribution date approaches, all eyes remain on how FTX sol staking will shape both creditor recovery and Solana’s broader market outlook.
